Australia's CSG buys NZ's CodeBlue

Deal worth up to NZ$15 million sees CSG pick up nationwide IT service supplier.

Australian listed IT service provider CSG has inked a deal to acquire New Zealand-based CodeBlue for up to NZ$15 million

The price is made up of NZ$5 million in cash, NZ$2.7 million in contingent cash payments and an earn-out considerations taking the total up to a maximum of NZ$15 million.

CSG describes itself as a technology-as-a-service organisation providing managed technology, print and cloud solutions as-a-service for the small to medium and larger businesses. It sells brands such as Canon, Konica Minolta, Samsung, HP, Lexmark and Microsoft.

In 2015 CSG reported revenues of over A$220 million, up 13 percent on the previous year.

CodeBlue, with up to 160 employees in nine branches, delivers IT support to small and medium enterprise customers. It is expected to use its service desk and remote support and monitoring platform to support CSG technology customers across Australia and New Zealand.